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ATMs in decline, cash out surges

13/05/2011

“Cash out” at EFTPOS is making gains as a supplier of cash for everyday use, a trend that may be contributing to a decline in the number of automatic teller machines.

Analysis by MWE Consulting of the monthly Reserve Bank of Australia payments’ data shows that more transparent pricing arrangements for ATM fees since March 2009, combined with greater public awareness of the options for accessing cash, appear to be driving people to take cash out at the supermarket or other retail outlets when paying for goods via EFTPOS.

Source: Banking Day



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